Investors Sell Caterpillar, Inc. (CAT) on Strength (CAT)
Investors sold shares of Caterpillar, Inc. (NYSE:CAT) on strength during trading hours on Thursday. $88.92 million flowed into the stock on the tick-up and $185.10 million flowed out of the stock on the tick-down, for a money net flow of $96.18 million out of the stock. Of all equities tracked, Caterpillar had the highest net out-flow for the day. Caterpillar traded up $0.41 for the day and closed at $138.01
Several equities research analysts have recently weighed in on the company. UBS Group AG set a $155.00 price target on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, October 25th. Stifel Nicolaus upped their price target on Caterpillar from $125.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Royal Bank Of Canada upped their price target on Caterpillar from $120.00 to $143.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. Robert W. Baird upped their price target on Caterpillar from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Finally, Bank of America Corporation set a $152.00 price target on Caterpillar and gave the company a “buy” rating in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the company. Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $133.92.
The company has a quick ratio of 1.04, a current ratio of 1.44 and a debt-to-equity ratio of 1.58. The firm has a market cap of $81,862.88, a PE ratio of 24.79, a price-to-earnings-growth ratio of 2.08 and a beta of 1.29.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.68. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same period last year, the business earned $0.85 earnings per share. The business’s quarterly revenue was up 24.6% on a year-over-year basis. research analysts expect that Caterpillar, Inc. will post 6.4 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, October 23rd were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Friday, October 20th. Caterpillar’s payout ratio is currently 216.67%.
In other Caterpillar news, insider Lange Bob De sold 1,572 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $137.58, for a total transaction of $216,275.76. Following the transaction, the insider now directly owns 11,096 shares in the company, valued at $1,526,587.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel M. Dickinson sold 3,813 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $137.09, for a total transaction of $522,724.17. Following the transaction, the director now owns 6,554 shares in the company, valued at $898,487.86. The disclosure for this sale can be found here. Insiders have sold 29,932 shares of company stock worth $4,069,782 over the last quarter. Company insiders own 0.14% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Caterpillar during the third quarter valued at approximately $1,989,000. Public Employees Retirement System of Ohio boosted its stake in shares of Caterpillar by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 394,172 shares of the industrial products company’s stock valued at $49,157,000 after purchasing an additional 1,825 shares during the period. Crestwood Advisors Group LLC boosted its stake in shares of Caterpillar by 24.2% during the third quarter. Crestwood Advisors Group LLC now owns 4,004 shares of the industrial products company’s stock valued at $499,000 after purchasing an additional 779 shares during the period. Salem Investment Counselors Inc. boosted its stake in shares of Caterpillar by 1.9% during the third quarter. Salem Investment Counselors Inc. now owns 30,919 shares of the industrial products company’s stock valued at $3,851,000 after purchasing an additional 590 shares during the period. Finally, Gofen & Glossberg LLC IL lifted its stake in Caterpillar by 2.1% in the third quarter. Gofen & Glossberg LLC IL now owns 74,151 shares of the industrial products company’s stock worth $9,247,000 after acquiring an additional 1,526 shares during the period. 69.19% of the stock is owned by hedge funds and other institutional investors.
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